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Augustus Minerals (ASX: AUG; “Augustus” or the “Company”) is pleased to advise that a review of soil sampling data completed by the company has returned high tenure lithium and rubidium results in and around the Peak Bore prospect area.
- Review of soil sample results have defined numerous highly promising lithium anomalies over a single coherent area at the Peak Bore location
- Numerous lithium results Li2O > 100ppm and the key lithium pegmatite pathfinder element Rubidium > 400ppm
- First pass reconnaissance mapping of the anomaly has identified outcrop of mafic greenstone and Leake Spring Metamorphics rock units which host spodumene pegmatites in the region
- Location to be a key focus during the early portion of the 2024 exploration campaign
The program has confirmed multiple lithium and pathfinder element anomalies within a zone approximately 7km x 6km which sits on and around a geologically complex flexure of the Ti-Tree shear.
Figure 1. Map on left showing distribution of lithium (ppm) results in ultrafine soil samples. Map on right showing distribution of rubidium (ppm) results in ultrafine soil samples.
Samples were collected on north-south oriented lines at a spacing of 100m x 400m.
The vast majority of the 7km by 6km soil anomaly is covered by thin soil cover. Basement rocks contain a mixture of Durlacher and Moorarie granites, as well as doleritic and felsic dykes and sills.
Encouragingly several occurrences of both Leake Spring Metamorphic and mafic greenstone have been found outcropping within parts of the anomaly coincident with higher grade portions of the anomaly.
More importantly, the Thirty-Three Supersuite granites which are presumed to be the source of all spodumene pegmatites in the Gascoyne region are in close proximity, just a few kms to the east, with the Delta Lithium Yinnetharra Lithium deposit 40kms away along strike.
Figure 2. Location of the Peak Bore lithium anomaly in relation regional soil sampling program and the Ti-Tree Shear zone.
Andrew Reid, Managing Director
“This large lithium anomaly continues our strategy for searching for new critical mineral targets in the Gascoyne.
“Results from the soils confirm the presence of lithium and more importantly key pegmatite pathfinder elements, overlaps the Ti-Tree Shear for which Augustus holds 85kms of strike length, and contain the same rocks which host the Yinnetharra Lithium Deposit.
“Our technical team is already working up exploration programs for 2024 and will use this data to redefine our priorities in this area.”
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This article includes content from Augustus Minerals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
AUG:AU
Drilling Commenced at Viani in Fiji
HIGHLIGHTS
- The Phase 1, three-hole diamond drilling program has commenced at the Viani Project, Fiji and will test for extensions to the quartz vein gold mineralisation at depth.
- Phase 1 is expected to be completed in early 2025, with plans for additional drilling under the same program dependent on the initial results
- The Viani Project (SPL1513) covers an area of approximately 200km2 and is largely underexplored.
- At the Dakuniba prospect within Viani, low sulphidation epithermal high-grade gold mineralisation has been mapped over >3km strike length.
- Diamond drilling completed by Japan International Cooperation Agency (JICA) in 1995 to 1997 intersected high-grade gold in low sulphidation epithermal quartz veins, including 0.6m @ 27.6 g/t Au.
Alice Queen’s Managing Director, Andrew Buxton said,
With drilling underway, Alice Queen is positioned to test the epithermal gold-style mineralisation identified in historic drilling at the Viani Project. Weather permitting, we anticipate completing the Phase 1, three-hole diamond drilling program in early 2025. Following this, our exploration team will mobilise the drill rig to the Sabeto Project in Fiji to maintain the momentum of this campaign. To deliver timely results to shareholders, we intend to accelerate the analysis of the drill core at ALS Brisbane.”
Image 1 – Diamond drilling at Viani
Details
Geology
The geology of the Viani Project (SPL 1513) comprises olivine basalts and volcaniclastics of the Natewa Volcanic Group which are intruded by andesite sills and dykes. In the 1940s, gold mineralisation was found by local prospectors near the village of Dakuniba. At Dakuniba, low sulphidation style epithermal gold occurs in quartz veins, and silicified rocks along a 3km long NE trending zone.
In 1995-1997, Japan International Cooperation Agency (JICA) drilled six diamond holes at Dakuniba and intersected high-grade gold in chalcedonic, crustiform, colloform banded quartz veins at depths of 50m to 100m below surface (i.e. MJVFV-5 intersected 2.2m @ 11.3 g/t Au, incl 0.6m @ 27.6 g/t Au at 121m downhole). This high-grade gold mineralisation is open in all directions.
Proposed Drill program
The initial Phase 1 drill program at Viani (see Table 1) will comprise three diamond drillholes designed to test continuity to the epithermal gold mineralisation previously intersected in JICA drillhole MJVFV- 5 (2.2m @ 11.3 g/t Au) (see Figure 2). The drilling will test for extensions to the gold mineralisation at depth and along strike.
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This article includes content from Alice Queen Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
